The FTSE 250 is exploding after the election results

It's not just the FTSE 100 that's cheering a Conservative government - the FTSE 250 is booming too.

London's second biggest index jumped over 3% at the open, hitting a new record high of 18158.62.

Sectors that Labour has threatened to crackdown on such as gambling and transport are doing particularly well - Ladbrokes is up 8.6% and Go-Ahead Group is 4.85% higher this morning.

The FTSE 250 is often seen as a better indication of the UK economy than the FTSE 100 as most of its constituents are based in the UK rather than multinational giants. The surge shows Britain's business community is heaving a sigh of relief this morning.

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